Paris, April 23, 2024 (TASR) – French automaker Renault sold 549,099 vehicles in the first quarter of 2024, generating revenue of €11.7 billion, an increase of 1.8% year-on-year.
The company’s sales returned to growth last year after four years of decline. However, the automaker is facing weakening demand, especially in the electric vehicle segment, where it is also struggling with stiff competition from China. In addition, the world’s largest electric car maker, US company Tesla, has cut prices in several key markets, further increasing pressure on European firms.
Tesla has pushed down the price of its Model 3 in France to $39,990 (€37,613), matching the starting price of Renault’s competing EV Scenic.
Key facts:
- Renault is the world’s largest electric vehicle maker.
- Renault’s sales in 2023 finally grew after four years of decline.
- Tesla has cut Model 3 prices in several key markets, putting pressure on European automakers.
Sources: Reuters: https://www.reuters.com/company/renault-sa/
